Is retail shopping obsolete?
E-commerce markets are on the rise. Digital conglomerates like Amazon are raking in billions as the evolution of digital consumerism drastically changes the face of retail. For the past few years, retailer bankruptcies and store closures have been the consistent storyline of America’s malls. Retailers like Sears, Forever 21, Nine West, and Claire’s are finding themselves in a position where they must restructure their debt and redefine their business models to sustain business in today’s swift and ambitious retail marketplace. In short, clothing brands are going digital to survive!
Amazon has made it quite difficult for stores to offer compelling alternatives that win over online shoppers, further leaving many retailers defeated by the battle of the digital age and victims to the retail apocalypse. The “retail apocalypse” is taking names like orders of Popeye’s chicken. No retail brand seems to be safe. One of the victims to join this infamous list is Dressbarn, a specialty store owned by Ascena Retail Group, Inc., an American retailer of women’s clothing.
The Ascena Retail Group, the parent company of brands such as Justice, Ann Taylor, and Lane Bryant, announced earlier this year that by December 26, 2019, they are expecting to close down all Dressbarn store locations across the country. “This decision was difficult, but necessary, as the Dressbarn chain has not been operating at an acceptable level of profitability in today’s retail environment,” Steven Taylor, CFO of Dressbarn said in a statement posted by Business Insider.
Dressbarn has been consistent in closing all of its 544+ stores nationwide since May. Although DB is on track to closing all of its physical stores, the Ascena Retail Group reported that they sold the DB intellectual property assets to a subsidiary of Retail Ecommerce Ventures LLC, and they have begun the process of transitioning its eCommerce business in preparation for a relaunch in 2020.
What does the closing of large companies mean for commerce?
Ultimately, Dressbarn will attempt to continue its legacy by going completely digital. “Going digital” has become a common trend amongst many retailers who aim to survive a dynamic economy. As the apparel and the retail landscape continues to change-face, the implementation of technology and strategies that allow brands to sell directly to consumers digitally becomes more prevalent. The emergence of digitally based brands creates the need for a digitally native and transparent supply chain.
If companies want to keep up with the evolution of digital consumers and set themselves apart from the competition, they will need to find creative ways to approach the digital landscape. The Suuchi GRID offers brands and retailers the opportunity to completely digitize their entire supply chain from ideation to production, without missing a beat! As technology continues to evolve, all brands will eventually find it necessary to transition into digital e-commerce platforms.
Making the transition to digitization is also fueled by its many benefits. Because of the analysis of collected data from a digitized supply chain, money time and natural resources will be saved, by making data-driven decisions. At Suuchi Inc, brands of all sizes are leveraging the Suuchi GRID as a digital solution to their supply chain management, a necessary move to compete with the digital conglomerates of the world. These brands are currently sustaining their growth with access to the data necessary to help executives make better business decisions, allowed to them by the Suuchi GRID.